LHN (Coli)-woos investors with more rooms, divestments as it seeks transfer to big board

THINGS have been falling nicely into place for LHN, the co-living operator listed on Catalist. “We didn’t expect demand to be so great. We thought that the business would grow constantly, (but) not exponential(ly),” said the group’s executive chairman and managing director Kelvin Lim, in an interview with The Business Times.

The modern concept of communal living, with its promise of affordability and flexibility, has become popular, not just among foreign students and expatriates to whom co-living has long appealed. More Singaporean young adults and couples are also ditching conventional accommodation to embrace shared residential spaces owing to lifestyle changes.

Co-living initially exploded amid the startling supply-demand imbalance in Singapore residential properties – no thanks to the pandemic. While these market dynamics appear to be gradually regaining their sensibilities, other factors are now keeping the boom in short-stay accommodation going.